South Africa Cardiovascular Devices Market Size (2024 - 2029)

The South African cardiovascular device market is anticipated to experience growth driven by an increasing prevalence of cardiovascular diseases, technological advancements, and heightened awareness of cardiac conditions and treatments. The market's expansion is supported by government and private initiatives aimed at addressing the rising burden of heart-related disorders, which are prevalent in the country. Despite the positive outlook, the market's growth may be constrained by a stringent regulatory environment.

Market Size of South Africa Cardiovascular Devices Industry

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South Africa Cardiovascular Device Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Low

Major Players

South Africa Cardiovascular Device Market Major Players

*Disclaimer: Major Players sorted in no particular order

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South Africa Cardiovascular Devices Market Analysis

The South African cardiovascular device market is poised to grow at a CAGR of 6% during the forecast period.

The COVID-19 pandemic affected the manufacturing of cardiovascular devices. The decrease in cardiovascular disease diagnoses due to healthcare resources allocated to COVID-19 patients had a detrimental influence on the market. According to the study published in Global Heart in March 2021, about 19% of hospitalized cases had evidence of cardiac injury. SARS-COV was associated with cardiomyopathy. Other cardiovascular findings include hypotension, arrhythmias, and sudden death. Persistent tachycardia was the most typical arrhythmia found in 72% of cases that persisted for weeks in COVID-19 patients. Thus, the cardiac disease market was significantly impacted during the pandemic as the number of cardiac incidences increased with COVID-19. However, the market has recovered well since the limitations were relaxed. The market recovery over the previous two years has been led by the increasing prevalence of heart illnesses and new product introductions.

The market is driven by the rising burden of cardiovascular diseases, technological advancement in cardiovascular devices, and increased awareness about cardiac diseases and treatment. The increasing burden of various coronary heart disorders, including cardiomyopathy and stroke, which account for most deaths from cardiac causes, is also driving the market. Cardiovascular diseases, the leading causes of death in South Africa, are the most prevalent ailments identified among the population. According to a study published in the Cardiovascular Journal of Africa in May 2021, every hour, five people have suffered from a stroke, and ten people suffered a heart attack. Additionally, obesity is a risk factor for CVD, and the growing prevalence of obesity will propel market growth. According to the study published in BMJ Open Journal in February 2022, adults without private health insurance in South Africa have hypertension in about 8.22 million cases annually. According to estimates, hypertension contributes to 6,100 new cases of chronic renal and, 14,000 cases of ischemic heart disease annually, and 13,300 strokes. Thus, the growing prevalence of cardiovascular diseases will propel market growth.

Furthermore, various initiatives launched by the government and private organizations in the country are expected to boost the market. In March 2022, WHF (World Hewart Federation) organized a site visit to Maputo, Mozambique, as part of the Colours to Save Hearts program. The WHF initiative Colors to Save Hearts, which is run by the Mozambique Institute for Health Education and Research and implemented by the National Health Institute of Mozambique (INS), aims to educate parents, teachers, and kids about the connection between rheumatic heart disease (RHD) and sore throats. They also shared how to recognize the symptoms of RHD and what to do when they first appear.

Thus, all factors mentioned above, such rising prevalence of cardiac diseases and government initiatives, are expected to boost the market in the country over the forecast period. However, a stringent regulatory scenario is expected to restrain the market growth over the forecast period.

South Africa Cardiovascular Devices Industry Segmentation

As per the scope of the report, cardiovascular devices are for diagnosing heart diseases and treating related health problems. The South Africa Cardiovascular Devices Market is segmented by device type (diagnostic and monitoring devices (Electrocardiogram (ECG), remote cardiac monitoring, and other diagnostic and monitoring devices), and therapeutic and surgical devices (Cardiac Assist Devices, Cardiac Rhythm Management Devices, Catheter, Grafts, Heart Valves, Stents, Other Therapeutic and Surgical Devices). The report offers the value in ( USD million) for all the above segments.

By Device Type
Diagnostic and Monitoring Devices
Electrocardiogram (ECG)
Remote Cardiac Monitoring
Other Diagnostic and Monitoring Devices
Therapeutic and Surgical Devices
Cardiac Assist Devices
Cardiac Rhythm Management Device
Catheter
Grafts
Heart Valves
Stents
Other Therapeutic and Surgical Devices
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South Africa Cardiovascular Devices Market Size Summary

The South African cardiovascular device market is experiencing a positive trajectory, driven by the increasing prevalence of cardiovascular diseases and technological advancements in medical devices. The market, which faced challenges during the COVID-19 pandemic due to disrupted manufacturing and shifted healthcare priorities, has shown resilience and recovery. The rising incidence of heart conditions, such as cardiomyopathy and stroke, coupled with the growing awareness of cardiac health, is propelling market growth. Additionally, the expanding geriatric population and the prevalence of obesity are contributing to the demand for cardiovascular devices. Government and private sector initiatives aimed at educating the public about heart health further support market expansion. However, the market's growth is tempered by a stringent regulatory environment.

The market is characterized by a competitive landscape with major players like Abbott Laboratories, Boston Scientific Corporation, and Medtronic PLC, among others, actively engaging in strategies such as product launches and partnerships to enhance their market presence. The demand for cardiac rhythm management devices is on the rise, driven by an increase in arrhythmias and other cardiovascular disorders. Furthermore, the expansion of healthcare facilities and increased healthcare spending in South Africa are expected to create additional opportunities for market growth. The adoption of cardiac assist devices, which aid individuals with weakened hearts, is also anticipated to rise, supported by the benefits these devices offer in managing advanced heart failure. Overall, the South African cardiovascular device market is poised for continued growth, supported by various socio-economic and healthcare trends.

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South Africa Cardiovascular Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Burden of Cardiovascular Disorders

      2. 1.2.2 Growing Public Awareness and Rapid Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Instruments and Procedures and Stringent Regulatory Scenario

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Device Type

      1. 2.1.1 Diagnostic and Monitoring Devices

        1. 2.1.1.1 Electrocardiogram (ECG)

        2. 2.1.1.2 Remote Cardiac Monitoring

        3. 2.1.1.3 Other Diagnostic and Monitoring Devices

      2. 2.1.2 Therapeutic and Surgical Devices

        1. 2.1.2.1 Cardiac Assist Devices

        2. 2.1.2.2 Cardiac Rhythm Management Device

        3. 2.1.2.3 Catheter

        4. 2.1.2.4 Grafts

        5. 2.1.2.5 Heart Valves

        6. 2.1.2.6 Stents

        7. 2.1.2.7 Other Therapeutic and Surgical Devices

South Africa Cardiovascular Devices Market Size FAQs

The South Africa Cardiovascular Devices Market is projected to register a CAGR of 6% during the forecast period (2024-2029)

Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Inc., Edwards Lifesciences and Medtronic PLC are the major companies operating in the South Africa Cardiovascular Devices Market.

South Africa Cardiovascular Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)